A slow down? After five days of going up, Bitcoin is flat today, hovering around $26,423.

Bitcoin is now trading at $26,423 after tracing out a steady $26,333 – $26,467 range today.

Chart analysis indicates Bitcoin is approaching key support, around $353.09 away from $26,070. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Trend analysis indicates that Bitcoin made an initial breakout above its 3 day Simple Moving Average at $26,427, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Bitcoin's upper Bollinger Band® is at $27,500, suggesting that a downward move may follow.

Overall, while Bitcoin has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

While Bitcoin is pretty flat so far today, mixed performances are seen elsewhere as FTX Token surges 9.54% to trade around $1.36. Ripple is up 1.28%. Algorand USD is up 1.54%.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Building Permits (May) scheduled to come out tomorrow at 12:30 UTC.

On a negative trend for around 2 months. Having set a significant high of $30,500 2 months ago, Bitcoin is trading 13.49% lower.